ADVERTORIAL

The March 2019 World Agricultural Supply and Demand Estimates report by the United States Department of Agriculture (USDA) has provided further evidence that the world will have fairly large maize, soybean, and rice supplies in the 2018/19 season. Meanwhile, wheat production could decline from levels seen in the 2017/18 season.Image viaImage via Wandile SihloboThe USDA lifted its estimate for 2018/19 global maize production marginally from last month to 1.1 billion tonnes. This is 2% higher than the previous season. The increases are mainly in South America and the Black Sea region.

Moreover, the agency placed its 2018/19 global rice production at 501 million tonnes, up by a percentage point from the levels observed in January 2019, and the 2017/18 production season.

The Food and Agriculture Organisation (FAO) Food Price Index, which tracks monthly changes in the international prices of commonly traded food commodities, averaged 173 points in June, down 0.3% from May.